BioTechnologyNews

Cellestis gets a mention in BioTechnologyNews (BTN)

Market Pulse: It's a brand new day

Monday, 22 November 2010
Amanda Ellis

TUBERCULOSIS diagnostic marketer and developer Cellestis has gained 12% after it predicted significant growth in 2011 and revealed it was on the lookout for acquisitions.

Shareholders re-elected chairman Ron Pitcher at the company’s annual general meeting last week.

During the 2010 financial year Cellestis achieved an $8.3 million net profit and paid $4.8 million of dividends to investors.

Pitcher told investors they should expect significant organic growth next year as the company continued to improve products, within the TB diagnostic area and with other medical opportunities.

“Product development, along with acquisition and generation of new intellectual property, represents the future of the company,” he said.

The company added 28c to close at $2.58.